Here’s the 30-slide pitch deck that Tim Draper-backed startup Naoris Protocol used to raise $31 million
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- Cybersecurity startup Naoris Protocol has raised a total of $31 million.
- Backers include BPMT Trading Limited and Holdun Family Office, along with tennis pro Milos Raonic.
- Check out the 30-slide pitch deck the startup used to secure funding.
With early backing from venture giants like Draper Associates, Naoris Protocol has increased its total capital raise to $31 million. The funding will go towards staff expansion, product development, and more, Insider has exclusively learned.
Founded in 2021, the Portugal-based startup developed a protocol in an effort to mitigate cybersecurity risks via the blockchain. Naoris Protocol says its “decentralized cybersecurity mesh” helps both crypto-native projects and others “bullet-proof the integrity of their validators and nodes,” according to its website.
The blockchain and cybersecurity are a “match made in heaven,” David Carvalho, CEO of Naoris Protocol, said in a statement, adding that by nature, the technology is encrypted and immutable.
“The current centralized status-quo where the hacking of a single device could compromise a whole network is categorically broken and unacceptable,” Carvalho said.
In July, the startup secured $11.5 million in an equity and token sale. Naoris Protocol has continued its fundraising efforts since then, garnering interest from BPMT Trading Limited and Holdun Family Office, along with tennis pro Milos Raonic. Other backers in the company include Uniera VC, The HOLT Xchange, and Expert Dojo.
The project is addressing a common criticism about the nearly trillion-dollar industry – its looming security risks. Axie Infinity’s Ronin Network, for example, was breached in late-March. Hackers drained its Ethereum-linked side chain for roughly $625 million worth of crypto.
“Our complimentary, non-competing solution operates at a new layer, a decentralized layer in the defense in depth, where current companies, systems, and processes stand to benefit heavily,” Carvalho added. “This means we will open up a new decentralized cybersecurity and trust enforcement world for applications, systems and hardware.”
Check out the 30-slide pitch deck — which has been updated to reflect current partnerships and investors — that helped Naoris Protocol fundraise.